Today marks 53 years since US President Nixon "suspended" the convertibility of US dollars into gold. Thus began the Great Keynesian Experiment and the myriad economic dislocations that have followed.
August 15, 1971...a date which will live in infamy. All politicians lie. You know that already. However, this was a doozy and the implications still resonate today. "Let me lay to rest the bugaboo of what is called devaluation"....
If you've never seen a compilation of charts showing how everything worsened followed Nixon's fateful decision, I strongly urge you to take some...
